In This Problem, We Consider Replacing An Existing Electrical Water Heater With An Array Of Solar Panels. The Net Installed Investment Cost Of The Panels Is $1,400 ($2,000 Less A 30% Tax Credit From The Government). Based On An Energy Audit, The Existing Water Heater Uses 200 Kilowatt Hours (kWh) Of Electricity Per Month, So At $0.12 Per KWh, The Cost Of Operating The Water Heater Is $24 Per Month. Assuming The Solar Panels Can Save The Entire Cost Of Heating Water With Electricity, Answer The Following Questions: Solve, A. What Is The Simple Payback Period For The Solar Panels? B. What Is The IRR Of This Investment If The Solar Panels Have A Life Of 10 Years?

In this problem, we consider replacing an existing electrical water heater with an array of solar panels. The net installed investment cost of the panels is $1,400 ($2,000 less a 30% tax credit from the government). Based on an energy audit, the existing water heater uses 200 kilowatt hours (kWh) of electricity per month, so at $0.12 per kWh, the cost of operating the water heater is $24 per month. Assuming the solar panels can save the entire cost of heating water with electricity, answer the following questions: Solve, a. What is the simple payback period for the solar panels? b. What is the IRR of this investment if the solar panels have a life of 10 years?

- October 5, 2022 - Edwin Tunner

In this problem, we consider replacing an existing electrical water heater with an array of solar panels. The net installed investment cost of the panels is $1,400 ($2,000 less a 30% tax credit from the government). Based on an energy audit, the existing water heater uses 200 kilowatt hours (kWh) of electricity per month, so at $0.12 per kWh, the cost of operating the water heater is $24 per month. Assuming the solar panels can save the entire cost of heating water with electricity, answer the following questions: Solve, a. What is the simple payback period for the solar panels? b. What is the IRR of this investment if the solar panels have a life of 10 years?

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